Brick and Main November Newsletter

Real Estate Market Update

Hot or Not?

For title companies, this quarter is matching the typical pace for this time of the year. As homes start to spend a longer amount of time on the market, sellers’ willingness to negotiate increases. With more room for compromise, buyers can take their time in choosing a home. .

Limited market activity also means it’s more important than ever for sellers to accurately price their homes. In September, 40% of sold properties had to reduce their asking price before receiving an offer.

Did You Know?

Real estate is still all about location, location, location!

Neighborhoods located within a half-mile of public transit outperformed those located farther away from public transit based on a number of factors, according to a report released by the American Public Transportation Association and the National Association of REALTORS®.

Buy Now or Later?

Lower prices, lower mortgage rates, lower inflation, and lower appreciation—the current market conditions have led to an all-time high for housing affordability.

This news comes on the heels of the Federal Reserve cutting mortgage rates for the third time, with the average 30-year fixed rate hovering around 3.8%. All of that to say, now’s looking like a great time to buy.

What’s Happening in Denver?

Want to fit in a jog before you dig into the mashed potatoes and stuffing? The 46th Annual Mile High United Way Turkey Trot is happening on Thanksgiving morning, bringing in over 10,000 people for a scenic, 4-mile run around Washington Park in Denver. The post-race party includes live music, local vendors, and a beer garden! For more details, visit the official event page here.

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